How the Oligarchs Ruined Greece

Misrule of the Few

By Pavlos Eleftheriadis

The fundamental problem facing Greece is not slow economic growth

 but political inequality.

Despite claims of reform, Greece is riddled with dysfunctional institutions and cronyism, according to Pavlos Eleftheriadis at Foreign Affairs. Since the early 1990s, a handful of wealthy families has preserved their positions through control of the media and through old-fashioned favoritism, sharing the spoils of power with the country’s politicians. Greek legislators, in turn, have held on to power by rewarding a small number of professional associations and public-sector unions that support the status quo. Plato would be appalled. 

READ THE WHOLE ARTICLE /www.foreignaffairs.com

Read more: www.capx.co